OMCs trading higher as Brent Crude Falls under $80 a Barrel

Shares in Oil Marketing Companies rose even as prices of Brent Crude fell below the $80 marl. A fall in crude prices is seen as good for oil marketing companies in India.

BPCL was up almost one per cent, while HPCL was trading higher by close to 2 per cent. Dealers say that the rally in oil marketing stocks may continue as long as crude continues to fall.

However, a drop in crude prices is not good oil exploration and production companies. Cairn India has been falling sharply ever since crude prices have been falling.

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